I need some help here.
We’re informed that on the 3.1.2018 Keith Toh transferred 16000 ordinary shares to his mother Ju Ling for a zero consideration. On the 3.1 2018 ACX shares closed at $7.69.
My expectation would be, if I transferred shares to my mother I would be paying CGT.
The Appendix 3Y reveals the Keith’s transfer was conducted without any consideration (no money changed hands) which on the face of it is most generous.
Can someone who knows more about these matters than I confirm CGT would be payable and there is no obligation on a director to declare a earning or loss or there exists some special consideration that the ATO grants to directors who find themselves in the middle of a take-over play.
ACX Price at posting:
$7.70 Sentiment: Hold Disclosure: Held
